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5 tips to avoid FBT on your staff Christmas gifts and work party

Christmas will be here before we know it, and once again many employers will be thinking about recognising their employee’s efforts throughout the year and getting everyone together for some fun and relaxation. While we don’t want to be the party-stoppers, we do think we should let you know that it’s worth thinking about how to manage tax and Christmas. While you should feel free to celebrate, make sure that you don’t get stung with unexpected taxes; particularly fringe benefit tax (FBT) and associated income tax and GST pitfalls.

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Can your small business claim tax deductions for employee training fees?

Running a successful small business sometimes requires an up-skilled team. If you need your employees to grow their expertise in a particular area, spotting them for short-courses, seminars, one-day intensives, professional qualifications or a bunch of “101s” can be a worthwhile endeavour.

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Single Touch Payroll questions answered: Have your say

When the Single Touch Payroll initiative was first floated at the end of 2014, it was touted as a tool that would eliminate several red-tape producing processes and do away with the need for many reporting demands presently dumped on small business owners.

It is called “single touch” because the interactive online tool is intended to fulfil all business reporting obligations (payment summaries, superannuation contributions, pay-as-you-go withholding and so on) “at the touch of a single button” the government announcement said.

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